OLD Media Moves

Is Fox Biz another CNNfn?

September 3, 2009

Kevin Coy of World Business News wonders whether Fox Business Network can survive given that it’s not performing as well as CNNfn, the last business news network to go out of business.

Coy writes, “What makes things a little worse on paper for FBN, is that CNNfn was infact marginally profitable, and attracted a far larger audience than what FBN has managed to muster in its 24 months on the air.  It also seems unlikely that many of the high-worth targeting advertisers will buy the story that CNBC use, which is that workplaces and gyms, where most people watch them, aren’t rated by Neilsen.  An average of 21,000 viewers during the business day, just isn’t going to make an appealing proposition for advertisers, fact.

“Fox Business Network wanted to pit itself against CNBC and present a serious challenge in the marketplace.  This simply hasn’t happened and with the increasing probability of the network’s morning business programming being replaced by a simulcast of Don Imus’ radio show, it appears that they have all but given up.

“The real unfortunate thing here, is that I don’t think Fox Business Network has what it takes to keep going for the 7 years that CNNfn did.  I expect it probably will just to save face, but it certainly isn’t a viable business, and is going to continually turn in poor ratings and losses year after year.  Shame really, I was a fan of CNNfn, and I would have liked to see a real challenge at CNBC’s dominance, not just in the United States, but around the world.”

Read more here.

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